Mango's turnover in some of its main European markets seems to be recovering rapidly and is close to the sales figures that the company reported in the first half of 2019, the year in which Mango achieved its highest historical sales volume. The recovery has been supported by the growth of online sales , especially in the transactions carried out in the months of March to June. In this period, the e - commerce of the multinational increased by 50% compared to the first half of 2019.
E l growth of more than 50% of online sales, key recovery
European figures recede slightly
By European countries, Belgium has decreased its sales by 4% and Germany , the third most important world market for Mango, has barely decreased by 10% compared to the same period in 2019.
The adjustment ranges from 10% to 14% in countries such as Russia, the Netherlands and Switzerland. This trio is among the top 10 in billing for the company.
Thanks to the fact that its main markets have regressed little compared to 2019, Mango is confident that it will be able to exceed 2019 sales by the end of 2020. The company’s forecasts are very optimistic for the remainder of the year, perhaps too much?
The forecast for 2020 was to reach 30% of sales via online
“The behavior of these markets is being better than expected after the start of the Covid-19 crisis and shows the success of our commitment in recent years to accelerate e-commerce and omnichannel initiatives. We continue to reap the rewards of so many years of effort and investment in the digitization of the company ” , says Toni Ruiz , CEO of Mango.
Mango’s ecommerce sales , which started just 20 years ago, account for about 24% of total turnover, reaching 564 million euros in 2019. This figure translates into a growth of 26.7% compared to 2018.
The forecast for 2020 was to reach 30% of sales via online . Given the current circumstances, it is clear that this percentage will remain small by 2020 thanks to the good performance of online sales.